"In the young people known as DREAMers, I see the same qualities Michelle and I try to instill in our daughters. They respect their parents. They study for a better life, "Obama says in Spanish. "And they want to give back to the only country they know and love. As a father, they inspire me. And as president, their courage reminds me that no obstacle is too great. No road too long."

Obama concludes the spot by using former Univision and Telemundo host and prominent endorser Cristina Saralegui's signature phrase: "Pa'lante!"

The Romney campaign is out with a new Spanish language ad of its own (ad buy size/scope unknown):

Regarding today's lameass Big Bird ad from the Obama campaign, Garance Franke-Ruta thinks the president is on the wrong game plan:

[T]he timing on the spot is a bit off. Big Bird — a topic Romney introduced into the conversation, not Obama — was the story of the day after the debate, but by now attention has turned to Romney's foreign-policy speech. Which just goes to show that it's Romney who is still driving the debate, even this many days after it. More importantly, the story is still about the debate — Obama's worst campaign moment all year.

In analysis news, FactCheck.org looks into on the two campaign's recent tax claims – the highlights:

An Obama ad [link] uses a truncated quote that makes NBC’s Andrea Mitchell seem to contradict Romney’s statement that his tax plan doesn’t amount to a $5 trillion cut. In fact, she went on to say Romney “said again tonight that his plan would be paid for.”

A Romney ad [link] claims Obama is "adding almost as much debt as all 43 previous presidents combined." It’s true that debt held by the public is up 79 percent since Obama took office, but that’s not all his fault. As we’ve often noted, the fiscal 2009 deficit was already running at an officially projected $1.2 trillion before he was sworn in.

In combination down-ticket/outside-spending news, Rove's dark-money 501(c)(4), Crossroads GPS, is continuing to hammer Democratic Senate candidates, this time with $4 million buy across five states. Here is the new spot targeting Sherrod Brown:

[The] ad specifically asks Ohioans to "Vote no on Sherrod Brown for U.S. Senate," which appears to violate the law, since GPS is a policy advocacy group that is not supposed to undertake straight electioneering and thus doesn't have to disclose its donors.